British tech pioneer Mike Lynch acquitted at US fraud trial
-Autonomy founder Mike Lynch was acquitted of fraud on Thursday by a jury in San Francisco, a major win for the entrepreneur who has been dogged by legal problems since the disastrous sale of his company to Hewlett-Packard (HP (NYSE:
The trial where prosecutors said Lynch and Chamberlain schemed to inflate Autonomy's revenue was the latest chapter in a legal saga stemming from the failed deal. Lynch also took the stand in his own defense at the trial, denying wrongdoing and telling jurors that HP botched the two companies' integration. Prosecutors said Lynch and Chamberlain padded Autonomy's finances in several ways, including back-dated agreements and"round-trip" deals that fronted cash to customers through fake contracts.
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